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DRC
Government at odds over repaying its oil debts

A gas station in Bukavu, DRC. © Guerchom Ndebo/AFP

Several senior figures in the DRC administration are against proposed arrangements for reimbursing $438m that was used to subsidise petrol prices in 2022. But failure to find a rapid solution could result in fuel shortages and unwanted political consequences. [...]

Published on 09/11/2023 at 05:40 GMT Reading time 4 minutes Olivier Liffran, Joan Tilouine

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Finance, Energy, Politics

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DRC
Access Bank
BIAC
Cobil
Dandy Matata
Didier Budimbu
Direction Generale des Douanes et Accises
Ecobank RDC
Engen
EquityBCDC
FBN Bank
Felix Tshisekedi
Flory Mapamboli
International Monetary Fund
Michel Losembe
Nicolas Kazadi
Olivier Josué Okunda
Sama Lukonde Kyenge
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Tony Dino Chermani
TotalEnergies RDC
Vital Kamerhe

Spotlight | DRC
The intriguing recipients of Congo's debt repayments

Some 2,900 transactions worth a tidy $1.2bn: Africa Intelligence has been able to consult an internal Central Bank of Congo document which reveals the beneficiaries of country's debt repayments.

Subscribers only Finance, Politics 20.12.2024

A branch of the Central Bank of Congo, in Lubumbashi (DRC), in May 2016.

DRC
DRC Congo banks consolidate oil company debt repayment mechanism

The financial package this time involves $282m from the massive subsidy lines for petroleum products designed to keep pump prices in check.

Subscribers only Finance, Energy 18.12.2024

DRC
Kinshasa turns to private banks to repay oil companies

Banks are reactivating a financial package tested in 2023 and which helped avoid a fuel crisis so the Congolese government can repay $385m in subsidy arrears to oil operators.

Subscribers only Finance, Energy 02.08.2024

DRC
National electrification agency hopes for funding boost from new Suminwa government

Created in July 2020 by Félix Tshisekedi to tackle the country's low level of electricity supply, ANSER struggled during the president's first term to find the money it needed to achieve its goals.

Subscribers only Infrastructure, Energy 04.07.2024

Spotlight | DRC
Tshisekedi's new government prompts coalition disquiet

President Félix Tshisekedi's nascent new administration is already causing ructions within the ruling coalition, whose cohesion will be put to the test in a vote scheduled for today in the National Assembly.

Subscribers only Politics 11.06.2024

Félix Tshisekedi at the Stade des Martyrs for his inauguration, Kinshasa, DRC, 20 January 2024.

DRC
Former prime minister Sama Lukonde Kyenge goes after Senate presidency

Now a senator for Haut-Katanga, former prime minister Sama Lukonde Kyenge intends to take advantage of his party's success in the legislative and senatorial elections.

Subscribers only Politics 08.05.2024

DRC
Oil blocks: deal struck with study bankroller under threat

Congolese Oil Minister Didier Budimbu has accused Emirati firm ClayHall Group of not paying the full sums agreed to pre-finance an assessment study of the DRC's sedimentary basins.

Subscribers only Finance, Energy 08.03.2024

DRC
Sonahydroc concerned about Oil Minister Didier Budimbu's support for rival Cobil

The Congolese state-owned oil firm Sonahydroc's fears that its rival Cobil has the favours of the oil ministry keep growing.

Subscribers only Energy 05.03.2024

DRC
Kinshasa goes all out to end tiff with Engen

Kinshasa has pulled out all the stops to resolve its squabble with Engen over the South African oil company's subsidiary in DR Congo. The firm was irked by manoeuvres by the Congolese state - a minority shareholder in the subsidiary - to take control.

Subscribers only Energy, Politics 03.01.2024

DRC President Felix Tshisekedi (R) in Beijing, China, 26 May 2023.

Spotlight | DRC
Engen sails into sea of troubles in DRC

The South African oil company is facing a bid by the Congolese state and relatives of the president to take control of its subsidiary. The managing director of Engen DRC has been dismissed and its shareholders are at daggers drawn.

Subscribers only Energy 14.12.2023

DRC
DRC's Tshisekedi delays decision on who will take over Gertler's former oil blocks

The Congolese president is keen to delay the selection process for new operators of oil blocks 1 and 2 on Lake Albert, where majors including TotalEnergies had previously positioned themselves, with junior companies now also in the running.

Subscribers only Energy 14.11.2023

DRC president, Félix Tshisekedi, at Rotterdam, in the Netherlands, the 4 September 2022.

DRC
Security chief Bukasa gets worked up over Omani oil deal

Tshisekedi's security adviser is pressuring the minister of portfolio Adèle Kahinda Mayina to ensure that a petroleum product supply contract with United International is implemented.

Subscribers only Energy 19.07.2023

DRC
Oil and mining poised for shake up after major cull in president's office

In a bid to slim down his teams, Félix Tshisekedi has cut the number of colleges advising him while finding new positions for the top aides who have been dismissed such as Marcellin Bilomba or Michel Eboma Ablavi, who are likely to retain their political influence.

Subscribers only Energy, Mining 16.01.2023

DRC
In the midst of a petrol shortage, "contaminated" shipment causes a stir in Kinshasa

A tanker operating for Petrocam was to supply the Congolese capital's service stations, which have been dry since the beginning of September, within the next few days. However, the 25,000 tonne cargo has now been found to be "contaminated" and "dangerous".

Subscribers only Energy 15.09.2022

Spotlight | DRC
Prosecutor opens investigation into $300m finance ministry account

Last month in the utmost secrecy, the Kinshasa prosecutor's office opened an investigation into an account held by the finance ministry at the First National Bank containing over $300m. It is a sensitive case that could involve irregular transactions.

Subscribers only Politics 27.05.2022

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DRC
Access Bank
BIAC
Cobil
Dandy Matata
Didier Budimbu
Direction Generale des Douanes et Accises
Ecobank RDC
Engen
EquityBCDC
FBN Bank
Felix Tshisekedi
Flory Mapamboli
International Monetary Fund
Michel Losembe
Nicolas Kazadi
Olivier Josué Okunda
Sama Lukonde Kyenge
Standard Bank
Tony Dino Chermani
TotalEnergies RDC
Vital Kamerhe

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Libya
From Tripoli to Benghazi, Turkish trader BGN's oil odyssey

Senegal
Guns and oil drive Russia's Dakar courtship

DRC
Government at odds over repaying its oil debts

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Set up email notifications for these topics

Spotlight | DRC
The intriguing recipients of Congo's debt repayments

DRC
DRC Congo banks consolidate oil company debt repayment mechanism

DRC
Kinshasa turns to private banks to repay oil companies

DRC
National electrification agency hopes for funding boost from new Suminwa government

Spotlight | DRC
Tshisekedi's new government prompts coalition disquiet

DRC
Former prime minister Sama Lukonde Kyenge goes after Senate presidency

DRC
Oil blocks: deal struck with study bankroller under threat

DRC
Sonahydroc concerned about Oil Minister Didier Budimbu's support for rival Cobil

DRC
Kinshasa goes all out to end tiff with Engen

Spotlight | DRC
Engen sails into sea of troubles in DRC

DRC
DRC's Tshisekedi delays decision on who will take over Gertler's former oil blocks

DRC
Security chief Bukasa gets worked up over Omani oil deal

DRC
Oil and mining poised for shake up after major cull in president's office

DRC
In the midst of a petrol shortage, "contaminated" shipment causes a stir in Kinshasa

Spotlight | DRC
Prosecutor opens investigation into $300m finance ministry account

Set up email notifications for these topics

About Africa Intelligence

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Africa Intelligence on social media

Indigo Publications' websites

About Africa Intelligence

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Indigo Publications' websites

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DRC Government at odds over repaying its oil debts

This article may be accessed by subscribers

Do you want a free trial before subscribing?

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create a free account

Set up email notifications for these topics

Spotlight | DRC The intriguing recipients of Congo's debt repayments

DRC DRC Congo banks consolidate oil company debt repayment mechanism

DRC Kinshasa turns to private banks to repay oil companies

DRC National electrification agency hopes for funding boost from new Suminwa government

Spotlight | DRC Tshisekedi's new government prompts coalition disquiet

DRC Former prime minister Sama Lukonde Kyenge goes after Senate presidency

DRC Oil blocks: deal struck with study bankroller under threat

DRC Sonahydroc concerned about Oil Minister Didier Budimbu's support for rival Cobil

DRC Kinshasa goes all out to end tiff with Engen

Spotlight | DRC Engen sails into sea of troubles in DRC

DRC DRC's Tshisekedi delays decision on who will take over Gertler's former oil blocks

DRC Security chief Bukasa gets worked up over Omani oil deal

DRC Oil and mining poised for shake up after major cull in president's office

DRC In the midst of a petrol shortage, "contaminated" shipment causes a stir in Kinshasa

Spotlight | DRC Prosecutor opens investigation into $300m finance ministry account

Set up email notifications for these topics

About Africa Intelligence

Subscription

Africa Intelligence on social media

Indigo Publications' websites

Libya
From Tripoli to Benghazi, Turkish trader BGN's oil odyssey

Senegal
Guns and oil drive Russia's Dakar courtship

DRC
Government at odds over repaying its oil debts

Spotlight | DRC
The intriguing recipients of Congo's debt repayments

DRC
DRC Congo banks consolidate oil company debt repayment mechanism

DRC
Kinshasa turns to private banks to repay oil companies

DRC
National electrification agency hopes for funding boost from new Suminwa government

Spotlight | DRC
Tshisekedi's new government prompts coalition disquiet

DRC
Former prime minister Sama Lukonde Kyenge goes after Senate presidency

DRC
Oil blocks: deal struck with study bankroller under threat

DRC
Sonahydroc concerned about Oil Minister Didier Budimbu's support for rival Cobil

DRC
Kinshasa goes all out to end tiff with Engen

Spotlight | DRC
Engen sails into sea of troubles in DRC

DRC
DRC's Tshisekedi delays decision on who will take over Gertler's former oil blocks

DRC
Security chief Bukasa gets worked up over Omani oil deal

DRC
Oil and mining poised for shake up after major cull in president's office

DRC
In the midst of a petrol shortage, "contaminated" shipment causes a stir in Kinshasa

Spotlight | DRC
Prosecutor opens investigation into $300m finance ministry account